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Briefing
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- Shipping Industry Blockchain – IBM and Maersk co-developing blockchain technology to monitor global supply chain trade and streamline document processing for ocean shipping industry, with launch expected in late 2017
- Current Shipping Process – Maersk research shows single container shipped from East Africa to Europe can undergo 200 transactions and involve 30 different people in processing paperwork
- Process Improvements and Other Benefits – Include increased transparency, reduced cost and complexity, decreased fraud and errors, faster processing, improved inventory management, and reduced waste and cost
- Leveraging Industry Partners – Plans to work with shippers, freight forwarders, ocean carriers, ports, and customs authorities to enhance blockchain solution
- Successful Trials – Successfully tested in Schneider Electric's shipment from Port of Rotterdam to Port of Newark, as well as shipment of flowers from Kenya, Mandarin oranges from California, and pineapples from Colombia to Port of Rotterdam
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Accelerator
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Market Disruption
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Sector
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Information Technology, Transportation and Logistics
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Organization
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International Business Machines Corp., Maersk A/S
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Source
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Original Publication Date
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March 5, 2017
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